Bitcoin’s (BTC) volatile December journey has somewhat stabilized.
On Thursday, the leading cryptocurrency saw a modest increase of approximately 0.4%, but it later relinquished these gains.
Compared to the more significant fluctuations of over 5% seen earlier in the month, the recent daily shifts indicate a decrease in volatility as the week concludes.
The Bitcoin price is $43,659.46, a change of -0.68% over the past 24 hours as of 11:04 a.m., with the bulls yet to overcome the key resistance level of $45,000.
Bitcoin’s dominance experienced a slight decline overnight, dropping by 0.5% to just under 53%.
This decrease in Bitcoin’s dominance indicates increased activity in the altcoin market, particularly with Ethereum (ETH), the world’s second-largest cryptocurrency.
Ethereum has risen over 2.2% against the US dollar today, reaching a seven-day peak of $2,289 at the time of this report.
However, Solana (SOL) outshines other major altcoins in performance.
The SOL/USDT trading pair saw a nearly 15% surge on Thursday. Although it has seen some cooling off this morning, its year-to-date increase is an impressive 829%.
Solana has now overtaken Ripple (XRP) as the fifth-largest cryptocurrency, boasting a token price of $92 and a market capitalization exceeding $39 billion.
Despite this, Solana is still on the path to recovery from its drastic 95% drop following the FTX collapse in late 2022.
Other cryptocurrencies like Polkadot (DOT) and Polygon (MATIC) also saw significant gains overnight, while XRP, Cardano (ADA), and Dogecoin (DOGE) experienced modest single-digit increases in their market capitalizations.
The global cryptocurrency market capitalization currently stands at $1.66 trillion.
